It has been a monumental 10 days or so for financial-regulation experts, and things peaked on Thursday when President Obama announced plans to restrict the trading activity of banks, limit consolidation in the finance industry and prohibit banks from owning interests in hedge funds or private equity funds.

Since then, the phones have been ringing off the hook as banks try to understand the proposals, pitch possible amendments and suss out their potential impact on foreign banks with operations in the U.S.

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